SUN PHARMA:

SUN PHARMA closed the week on negative note losing more than 1%.

As we have mentioned last week that the stock is trading at a very important support zone of 860. If the stock breaks below the levels of 860 on closing basis the stock can drift to the levels of 800 and the stock manages to hit a low of 815 during the week and bounce back to the levels of 846.

Resistance for the stock lies in the zone of 855 to 860. If the stock manages to close above this levels the stock can move to the levels of 890 to 900 where 100 Daily SMA and 200 Daily SMA are positioned.

Support for the stock lies in the zone of 800 to 810 below which the stock can drift to the levels of 750 where 500 Daily SMA and 100 Weekly SMA are positioned.

Broad range for the stock in the coming week can be 820 – 830 on lower side to 870 – 880 on upper side.